The 4 reasons Evercore ISI upgraded Pinterest and set ‘street high’ PT

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The analysts cited four reasons for the upgrade:

The firm’s new $41 price target is based on 30X the firm’s ’25 EBITDA of $833M, adjusting for an estimated $3.7 billion in year-end 2024 net cash. The firm’s new price target represents the highest on Wall Street.

Shares of PINS are up 20% year-to-date.